Sheffield Watch Corporation - 1974 dated Stock Certificate - Rare Topic

1974, Delaware, Stock. Security Columbian. Excellent Condition. The Saxony/Sheffield Watch Co. was founded in New York in the 1950s. The company specialized in producing low-price point, quality watches. They later expanded their production to include civil mechanical watches with European components. To reach a wider audience, the company marketed all their products under the Sheffield brand in high-end stores, but also had other brands such as "Sheraton" and "Norbee" for distribution in major chain stores, and "Saxony" watches for wholesalers.

In 1969, Sheffield/Saxony had a large advertising budget of $1.05 million (equivalent to approximately $8.8 million in 2023) and spent it on ad placements in 350 American newspapers and international watchmaking magazines. This was quite a feat at the time, and Sheffield Watch Co. seemed to be thriving. However, on May 11, 1970, the company suddenly announced a deficit of $4.5 million. According to "North American News" of September 9, 1970, Sheffield had planned to make a $13.5 million turnover in 1970, indicating the failed ambitions of the company and its large scale advertising campaign.

The company's fortunes took a further turn for the worse with the introduction of quartz watches in 1970. This period, known as the Quartz Crisis, saw many mechanical watchmakers, including Sheffield/ Saxony, struggle to compete with the more accurate and affordable quartz watches. The crisis was caused by the advent of new technology and the development of cheaper, more efficient quartz movements. This led to a dramatic decline in demand for mechanical watches and caused many companies to go out of business. Read more at https://errolvas.com/blog/f/the-fall-of-saxony-sheffield-watch-co

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